You are here: Home » News & events » Tax News

Tax News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Tax Free Childcare – Who is eligible? - April 24, 2017
thumb image

Juggling the rigours of the modern working world and childcare can be difficult for employees and can have a serious impact on a business’s ability to retain highly-skilled and valued workers. Currently, all taxpayers are afforded 15 hours of free childcare at a nursery, playgroup, pre-school, childminders or Sure Start Children’s centre if the child … Continue reading Tax Free Childcare – Who is eligible?


Taxation of Dividends – An ever-changing landscape - April 24, 2017
thumb image

The way in which dividends are taxed in the UK has changed significantly in the last few years and what was once seen as an effective way of managing remuneration in a tax-efficient manner has come under intense scrutiny. Up until April 2016, Dividends were paid net of a 10 per cent notional tax credit, … Continue reading Taxation of Dividends – An ever-changing landscape


Inheritance Tax – no longer just for the wealthy - April 20, 2017
thumb image

In recent years, the number of Britons affected by Inheritance Tax (IHT) has risen significantly, while rules surrounding the tax have grown increasingly complex. Over the last ten years, the Inheritance Tax nil rate band – or ‘threshold’ – above which IHT is due has risen by 14 per cent, while the average house price … Continue reading Inheritance Tax – no longer just for the wealthy


Does Annual Tax on Enveloped Dwellings (ATED) apply to you? - April 20, 2017
thumb image

While changes affecting private residential landlords have made headlines in recent years, the ATED regime is a significant cost for companies, LLPs and partnerships that own a UK residential property valued at more than £500,000. The ATED regime requires you to file a return and pay tax due for the 2017-18 tax year by 30 … Continue reading Does Annual Tax on Enveloped Dwellings (ATED) apply to you?


Trivial in name only – do you know the rules on trivial benefits in kind? - April 20, 2017
thumb image

Although designated as ‘trivial’ by the taxman, trivial benefits in kind can result in tax savings for you and your employees, which can be anything but trivial. The rules cover benefits such as taking employees out for meals or giving gifts at Christmas – costs which can quickly add up and might, over the course … Continue reading Trivial in name only – do you know the rules on trivial benefits in kind?


Small businesses see changes to the VAT Flat Rate Scheme - April 20, 2017
thumb image

Small business users of the VAT Flat Rate Scheme who have low costs may see the rate they pay drastically increase under new changes, which came into effect at the beginning of this month. The Flat Rate Scheme was created to simplify businesses’ record keeping, by making it easier for smaller companies to figure out … Continue reading Small businesses see changes to the VAT Flat Rate Scheme


HMRC launches digital tax pilots - April 12, 2017
thumb image

In a bid to calm fears about the introduction of Making Tax Digital (MTD), HM Revenue & Customs (HMRC) is to invite selected businesses and agents to take part in a pilot programme to report their income and expenses as part of the MTD strategy. A report from the Treasury Committee in response to the … Continue reading HMRC launches digital tax pilots


‘True costs’ of Making Tax Digital still unclear, says Treasury Committee - March 28, 2017
thumb image

The Treasury Committee has again called on HM Revenue & Customs (HMRC) to provide greater clarity on the true costs of Making Tax Digital (MTD) for small and medium-sized enterprises (SMEs). Chairman of the Committee, Andrew Tyrie MP, has said that HMRC should implement a far-reaching MTD pilot for businesses prior to the mandatory roll-out … Continue reading ‘True costs’ of Making Tax Digital still unclear, says Treasury Committee


Consultation on late submission penalties for MTD - March 22, 2017
thumb image

HM Revenue & Customs (HMRC) has opened a consultation on penalties for firms that either submit records late under the Making Tax Digital (MTD) scheme or do not pay on time. When HMRC consulted on its compliance powers last year, it was recognised that more work needed to be done on the matter but has … Continue reading Consultation on late submission penalties for MTD


One in five micro-businesses unaware of Making Tax Digital, research shows - March 10, 2017
thumb image

Research published by FreeAgent has found that a fifth of the smallest business are unaware of Making Tax Digital (MTD) – HM Revenue & Customs’ (HMRC) flagship policy, which will introduce quarterly electronic reporting for most businesses. The FreeAgent survey also found that 84 per cent of micro-businesses thought the Government had not provided enough … Continue reading One in five micro-businesses unaware of Making Tax Digital, research shows


© Copyright Moore Thompson. All rights reserved. | Terms & conditions | Privacy policy | Sitemap
Moore Thompson is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales.
Accountants in Spalding | Wisbech | Market Deeping | Lincolnshire | Cambridgeshire | Peterborough